REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Diverse Leisure Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
Diverse Leisure Limited |
Diverse Leisure Limited (Registered number: 10123762) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Diverse Leisure Limited |
Company Information |
for the Year Ended 31 October 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 & 5 Station Road |
Keynsham |
Bristol |
BS31 2BH |
Diverse Leisure Limited (Registered number: 10123762) |
Abridged Balance Sheet |
31 October 2022 |
31.10.22 | 31.10.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Diverse Leisure Limited (Registered number: 10123762) |
Abridged Balance Sheet - continued |
31 October 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Diverse Leisure Limited (Registered number: 10123762) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
Diverse Leisure Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Diverse Leisure Limited (Registered number: 10123762) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2021 |
and 31 October 2022 |
AMORTISATION |
At 1 November 2021 |
Amortisation for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 November 2021 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Included in cost or valuation of land and buildings is freehold land of £ 456,000 (2021 - £ 456,000 ) which is not depreciated. |
Diverse Leisure Limited (Registered number: 10123762) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
5. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 October 2022 is represented by: |
Totals |
£ |
Valuation in 2019 | 8,286 |
Valuation in 2020 | (9,042 | ) |
Valuation in 2021 | 362,791 |
Valuation in 2022 | 122,089 |
Cost | 2,783,720 |
3,267,844 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
31.10.22 | 31.10.21 |
£ | £ |
Cost | 1,014,136 | 1,014,136 |
Value of land in freehold land and buildings | 1,014,136 | 1,014,136 |
Freehold land and buildings were revalued by the Director. |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.10.22 | 31.10.21 |
£ | £ |
Bank loans |
The bank loans are secured by fixed and floating debentures dated 16 June 2020, 27 May 2021 and 18 October 2022. The floating charges are secured over all assets of the company. |
7. | PROVISIONS FOR LIABILITIES |
31.10.22 | 31.10.21 |
£ | £ |
Deferred tax | 170,699 | 110,937 |
Deferred |
tax |
£ |
Balance at 1 November 2021 |
Charge to Income Statement during year |
Balance at 31 October 2022 |
Diverse Leisure Limited (Registered number: 10123762) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.22 | 31.10.21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 November 2021 |
Revaluation movement in year | 69,844 |
At 31 October 2022 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021: |
31.10.22 | 31.10.21 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
11. | RELATED PARTY DISCLOSURES |
During the year under review the company charged rent to Windmill Sporting Ltd amounting to £98,000 (2021 £75,000), software charges amounting to £15,241 (2021 £15,241) and electricity charges of £3,258 (2021 £0). The company is connected as it has common directors and shareholders. |